The Sandbox (SAND) Attracts More attention Due To Whales Massive Transactions To Binance

Key Points:

• The Sandbox is gaining popularity after three addresses transferred 78 million tokens worth $56 million to Binance.
• Long-term holders are selling at a profit since the price has recently been flat. The analytics firm believes that the selling will cause SAND to fall in price, but it will then rise.

According to blockchain analytics firm Santiment, metaverse altcoin The Sandbox (SAND) is gaining traction after whales transferred significant amounts of the token to Binance.

According to Santiment, The Sandbox is gaining popularity after three addresses transferred 78 million SAND tokens worth $56 million to the world’s largest crypto exchange.

The transactions piqued the interest of the blockchain-tracking Twitter account Lookonchain, which Santiment credits with detecting the large whale’s movements.

According to Santiment, long-term SAND holders are selling at a profit since the price has recently been flat.

The analytics firm believes that the selling will cause SAND to fall in price, but it will then rise.

They will have no problem selling it even after it starts dumping, and it will even accelerate the dump. But once they are done and when you see a short drop, then it might be an excellent opportunity to enter the SAND position.

At the time of writing, The Sandbox is trading at $0.85, down nearly 5% over the previous day’s high of $0.92.

Santiment also claims that SingularityNET (AGIX) and Fetch.ai (FET), two artificial intelligence (AI) blockchain projects, are at the top of hot crypto topics.

It’s AGIX and FET, two tokens from the AI watchlist managed to make their way to top-1 and top-2 in Top Social Trends

FET is currently worth $0.487, having roughly doubled in price this week. At the time of writing, AGIX was trading at $0.47, up roughly 200% from its weekly low of $0.16.

Additionally, Santiment reported that general interest in cryptocurrency peaked the week of December 14, 2022, when markets appeared to be bottoming. However, they claim that interest has not waned since the year’s first rally.

The overall amount of crypto discussions occurring on social platforms remains high after peaking the week of Dec. 14, 2022. Despite Bitcoin still being -66% from its Nov. 2021 All-Time High, the increasing interest in cryptocurrency is quite evident.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Thana

Coincu News